Kazuo Hirai steps down as Sony Computer Entertainment chairman.
Kazuo Hirai steps down as representative director and chairman of Sony Computer Entertainment but will remain on the board on a part-time basis, Sony confirmed today.
The new representative director, president, and group CEO for the division will be Andrew House, according to Sony's investor website, while Hirai will retain his title as president and CEO of Sony Corporation which he obtained last April.
Kazuo Hirai follows in the footsteps of chairman of the Sony Corporation Howard Stringer who retired from his part-time role on the board earlier in the year.
So far president of SCE Japan, Hiroshi Kawano, is one of the new executives to be appointed to the board.
Sony disclosed this week the pay of three of its corporate executives, revealing Hirai received a 24 percent pay cut from his salary total this time last year. In addition, he was the lowest paid of the three executives at $1.45 million in salary, stock options, and benefits.
Speaking to The Wall Street Journal, a Sony spokesperson stated top executives will receive a cut in their base salary this fiscal year; however, performance bonuses will not be affected.
Sony's pay cuts are said to be a reflection of shareholder angst over the poor performance of the company's shares.